Orex­i­gen posts a ‘for sale’ sign in the yard as weak Con­trave sales raise con­cerns

The end may not be far off for Orex­i­gen $OREX, one of the three biotechs which man­aged to get an obe­si­ty drug in­to the US mar­ket a few years ago, on­ly to be crushed by a wave of in­dif­fer­ence for their drugs’ mod­est ef­fect on weight loss.

In a SEC fil­ing on Mon­day the biotech said it is un­der­tak­ing a ‘go­ing con­cern’ re­view, and it isn’t mak­ing any as­sur­ances that it will be pos­i­tive in the end. Its se­nior note hold­ers could see debt pay­ments speed­ed up if drug sales fail to hit $100 mil­lion, and they came in at just $18 mil­lion to $19 mil­lion in Q3.

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